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    • MSE Sarah
    • By MSE Sarah 4th Jun 19, 2:35 PM
    • 194Posts
    • 84Thanks
    MSE Sarah
    Money Moral Dilemma: Should I switch to a greener bank?
    • #1
    • 4th Jun 19, 2:35 PM
    Money Moral Dilemma: Should I switch to a greener bank? 4th Jun 19 at 2:35 PM
    This week's MoneySaver who wants advice asks...

    I'm concerned about climate change, and recently found out my savings are with a bank which invests in the fossil fuel industry. Should I pick a more environmentally-friendly bank, even if it means I earn less interest?

    Unfortunately the MSE team can't always answer money moral dilemma questions as contributions are often emailed in or suggested in person. They are intended to be enjoyed as a point of debate and discussed at face value.

    If you haven’t already, join the forum to reply!

    Got a Money Moral Dilemma of your own? Suggest an MMD.

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Page 2
    • happyinflorida
    • By happyinflorida 5th Jun 19, 11:03 PM
    • 775 Posts
    • 664 Thanks
    happyinflorida
    We found out that our old bank Natwest was committing fraud - it's part of RBS and they were bailed out previously - to try and get out of the red they decided a good way was to pretend to help smaller businesses, they take them over, fraudulently sign all their assets over to themselves and sell them off to other dodgy people for a fraction of their value.

    People have lost millions, some have lost their homes and many have committed suicide - Noel Edmonds was one person involved in this fraud and he's fought back and is planning to take them to court because the police won't touch it?!

    So when I found out about all of this, I checked Nationwide was ok, decided it was and transferred our account to them.

    I cannot believe what is going on with some banks now, the corrupt conservatives are fully aware but refuse to do anything, some of them are profiteering from this
    • 1961Nick
    • By 1961Nick 6th Jun 19, 7:29 AM
    • 600 Posts
    • 2,729 Thanks
    1961Nick
    We found out that our old bank Natwest was committing fraud - it's part of RBS and they were bailed out previously - to try and get out of the red they decided a good way was to pretend to help smaller businesses, they take them over, fraudulently sign all their assets over to themselves and sell them off to other dodgy people for a fraction of their value.

    People have lost millions, some have lost their homes and many have committed suicide - Noel Edmonds was one person involved in this fraud and he's fought back and is planning to take them to court because the police won't touch it?!

    So when I found out about all of this, I checked Nationwide was ok, decided it was and transferred our account to them.

    I cannot believe what is going on with some banks now, the corrupt conservatives are fully aware but refuse to do anything, some of them are profiteering from this
    Originally posted by happyinflorida
    If you check your history, you'll discover that it was New Labour that presided over the incident mentioned....and it happened several years ago.
    4kWp (black/black) - Sofar Inverter - SSE(141°) - 30° pitch - North Lincs
    Installed June 2013 - PVGIS = 3400

    Sofar ME3000SP Inverter & 5 x Pylontech US2000B Plus Batteries - 12kWh
    • itsgazza
    • By itsgazza 6th Jun 19, 9:38 AM
    • 42 Posts
    • 32 Thanks
    itsgazza
    Absolutely you should - otherwise you are complicit. Martyn's tips are great, but other things than financial value are more important. The firms that provide great service to customers may well be more morally suspect than one that scores less well. We must research where we are putting our money. I only ever invest ethically, with the help of an Ethical Investor adviser. I encourage you to please do the same.

    I wish I could be as green as you Maureen but I feel I have to balance the ethical/green issues with a reasonable interest rate on my savings..( I need to maximise my interest on savings as these are my main source of income...)
    As such I have picked the Co-operative Bank as they have an instant access product that pays 1.4% a year and they appear to be better than most others ( as someone suggested earlier , look at their Values & Ethics on their web site
    Last edited by itsgazza; 06-06-2019 at 9:40 AM. Reason: spelling
    • db2016
    • By db2016 6th Jun 19, 12:18 PM
    • 135 Posts
    • 317 Thanks
    db2016
    a bank is a bank, as long as my money is safe / backed up by the regulators etc.

    and the deal is good and services such as the websites and apps work... i'm honestly not bothered tbh.


    it's like on the DFW boards, whilst i admire you want to keep buying toilet roll thats been through cleaner processes / has less plastic (but costs more naturally). or you wanna give to charity every month.



    if your on the DFW board, then imo i'd cut all the back till your on a better footing, and maybe even give the missed charity payments double back when your more able.



    sometimes morals DO come at a cost! and is better spent elsewhere for a while imo.
    Last edited by db2016; 06-06-2019 at 12:22 PM.
    • Ebenezer_Screwj
    • By Ebenezer_Screwj 19th Jun 19, 7:49 AM
    • 437 Posts
    • 231 Thanks
    Ebenezer_Screwj
    That's entirely your decision. Personally I would always invest where the highest returns are available irrespective of all this talk about "climate change" - whatever that means.
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